10 Things to Stop Assuming About Women and Money

We're not all a bunch of shopaholics.

Sex and the City may have left a great legacy for women in terms of its fashion influences (plenty of women are still rocking Jimmy Choos thanks to Carrie Bradshaw), but it also left us with some unflattering stereotypes  perhaps the worst being that all fun, fashionable young women are bad with money. Who can forget Carries embarrassment and desperation at realizing that she couldnt afford a down payment on an apartment because she had spent $40,000 on shoes over the years?

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But the idea that all women are Carrie Bradshaws when it comes to money is just one of many myths and misconceptions out there when it comes to women and finance. Here are the most popular, and proof that they are wrong, with a capital W.

1. Women make less than men.

Plenty of women make less than men for the same work in the same occupation. To put it bluntly, that sucks. But if you are reading this article, chances are you are not one of those women. The reason? Because Census data found that women ages 22 to 30 actually earn more than males in the same age group in major metropolitan areas. There is just one catch. These women are single and do not have children. The good news is this proves that women are no longer the victims of the widespread discrimination they once were in the workplace. Unfortunately, it doesnt appear the same can be said for mothers, which means women still have some tough choices to make when it comes to finding a balance between professional and personal happiness.

2. Women arent good with money.

The stereotype of the hapless little lady incapable of balancing her checkbook may be pervasive, but the truth is more women are likely to handle the reins of American checkbooks than men. Women comprise 60 percent of all accountants and auditors in America, meaning they are not just balancing their checkbooks but those of many others including plenty of men.

3. Women are less likely to buy homes on their own.

The American Dream used to consist of a young married couple buying a house with a white picket fence to raise two children with a pet or two. Today plenty of women are buying a house, and maybe getting a picket fence, but more are doing so without a husband by their side. According to a 2013 reports, single women now purchase homes at twice the rate of single men. And to think, only decades ago women were not legally allowed to take out mortgages on their own.

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4. Women are less fiscally responsible than men.

From Carrie Bradshaw to the Confessions of a Shopaholic series, the image of the spendthrift young woman is indelible in popular culture. Yet according to a study released earlier this year by the American Association of University Women, women carry less overall debt than men do and men are more likely to make late payments than women.

5. Women are scared of being the boss.

Despite the image of business still being a man's world, women actually start more businesses than men. According to Forbes, female entrepreneurs are expected to create more than half of the 9.72 million small business jobs expected between now and 2018.

6. Women are less ambitious than men.

There has long been talk of an "ambition gap" and how to empower women to own their ambition. But every trend in higher education indicates that men, not women, may need help in the ambition department. In 2011 it was reported that Census data proved women officially surpassed men in earning college degrees. Women now make up nearly half of the class at major law schools, and in 2003 female applicants to medical school surpassed male applicants for the first time.

7. Girls are bad at math.

The stereotype of girls being bad at math is so prevalent that it sparked an entire fashion trend. First there was a T-shirt that read, "I'm too pretty to do math." Then there was another targeted to girls that read, Allergic to Algebra. But contrary to these offensive pieces of fashion, female students actually do just as well on math tests as male students  with one important caveat. According to a University of Wisconsin study released earlier this year female students do less well than male students on math tests when they are told in advance that men tend to do better at math. This was referred to as stereotype threat, as in women became so worried about living up to a negative stereotype that they ended up falling into said stereotype by default. However the study found that women who assumed an alias while taking the test  many assuming a male name  did just as well as male students. So it appears that its not that women are bad at math, but that society does a bad job of reinforcing and supporting the math talents of female students, and a worse job instilling the confidence that could help them compete with men in math related professions as adults.

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8. Women dont head households.

Despite the lingering stereotype that even in 2013 most women are waiting around for a Prince Charming to turn them into Cinderella and take care of them forever, more than half of American women are happily taking care of themselves. According to a 2012 Prudential Financial survey, 53 percent of the more than 1,400 women surveys were heads of their households. A quarter of those surveyed were married women who made more than their spouses.

9. Women shop more than men.

Actually it depends on where the shopping takes place. When it comes to online shopping, there is no contest. Men far outspend women  globally. CNBC reported that the growth rate of men shopping online has outpaced women, and guys are outspending the ladies by 20 percent to 30 percent per transaction. Meanwhile, a 2011 analysis by the World Internet Project found that in Australia, men spent 46 percent more on online purchases than women.

10. Women dont know about investing.

When most people think of iconic Wall Street figures, they think of the fictional Gordon Gekko immortalized by Michael Douglas in Wall Street or other larger-than-life moneymen like Warren Buffett. Rarely do people think of women. Yet Warren Buffett does. Research has shown women to be so much better than men at making smart investing choices that they inspired an entire book Warren Buffett Invests Like a Girl: And Why You Should, Too. Men tend to be more competitive and overly confident, traits less likely to be seen in women, therefore resulting in individual female investors and female investment groups outperforming men.

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